Bitcoin surpasses Russian Ruble - now top 15 currency

[Bitstar_coin]

Bitcoin’s valuation has surpassed that of the Russian Ruble and also institutions like JPMorgan, Meta and others.    
Bitcoin has become one of the most valuable currencies globally after overtaking the Russian ruble.

The invasion of Ukraine has sent Russian currency tumbling to record lows, and Bitcoin is profiting from that. This followed its sharp recovery after it fell to $35k after news of the invasion broke out.

Bitcoin is more valuable than Russian Ruble

With an over 17% increase in the last seven days and a 13% surge in the past 24 hours, Bitcoin has become part of the 15 most valuable currencies globally by market cap. It surpasses the fiat currencies of nations such as Saudi Arabia, Mexico, Thailand, Sweden, and Israel.

The fall in the Russian ruble against Bitcoin and US dollars came after some Russian financial institutions were cut from SWIFT. The ruble’s value against the dollar reached ₽108 on Monday, a significant rise from the ₽83 the week earlier.

Source

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

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[kentrolla]

When the war is over it will take sometime i would say but longer for Russian Ruble to get back to pre war value due to the ongoing sanctions, don't forget war will end but these sanctions will have long lasting effect on Russian economy and it's the sanctions which destroyed Iraqi economy.

Even incase if Russian Ruble bounces back and have more valuation of Bitcoin still it will not have significant impact of Bitcoin's value as this conflict is not the only factor which decides bitcoin's price, this will infact bring in more investors towards Bitcoin.

[BitcoinsGreat]

Bitcoin’s valuation has surpassed that of the Russian Ruble and also institutions like JPMorgan, Meta and others.    
Bitcoin has become one of the most valuable currencies globally after overtaking the Russian ruble.

The invasion of Ukraine has sent Russian currency tumbling to record lows, and Bitcoin is profiting from that. This followed its sharp recovery after it fell to $35k after news of the invasion broke out.

Bitcoin is more valuable than Russian Ruble

With an over 17% increase in the last seven days and a 13% surge in the past 24 hours, Bitcoin has become part of the 15 most valuable currencies globally by market cap. It surpasses the fiat currencies of nations such as Saudi Arabia, Mexico, Thailand, Sweden, and Israel.

The fall in the Russian ruble against Bitcoin and US dollars came after some Russian financial institutions were cut from SWIFT. The ruble’s value against the dollar reached ₽108 on Monday, a significant rise from the ₽83 the week earlier.

Source

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

Russian's native currency Ruble is losing its value and therefore people are converting their wealth in bitcoins. We cannot yet say how things will develop after the war. It entirely depends upon the outcome of this war.

[kaya11]

This is an eye opener for those people who doesn't still believe in Bitcoin's potential. It can overcome any countries currency, and stand on even times like this. The past weeks dip is now gone and Bullish is on the way. More investors are attracted and maybe could see another ATH soon this year.

[batang_bitcoin]

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

I don't think so. When the covid 19 has hit the world, many have been worried about bitcoin's price and it went the opposite. Now, that the world is turning back to normal, the effect is still there.
And the same goes for this Ukraine-Russia war, we thought that most economies would collapse including bitcoin but, we've just seen the surge on its price. It's very likely that when things back to normal, the effect will remain to bitcoin and people who have held it during the war are likely to hold it.

[poldanmig]

Bitcoin’s valuation has surpassed that of the Russian Ruble and also institutions like JPMorgan, Meta and others.    
Bitcoin has become one of the most valuable currencies globally after overtaking the Russian ruble.

The invasion of Ukraine has sent Russian currency tumbling to record lows, and Bitcoin is profiting from that. This followed its sharp recovery after it fell to $35k after news of the invasion broke out.

Bitcoin is more valuable than Russian Ruble

With an over 17% increase in the last seven days and a 13% surge in the past 24 hours, Bitcoin has become part of the 15 most valuable currencies globally by market cap. It surpasses the fiat currencies of nations such as Saudi Arabia, Mexico, Thailand, Sweden, and Israel.

The fall in the Russian ruble against Bitcoin and US dollars came after some Russian financial institutions were cut from SWIFT. The ruble’s value against the dollar reached ₽108 on Monday, a significant rise from the ₽83 the week earlier.

Source

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

The fact is that now the russian people are starting to secure their money in bitcoin and this they are doing as an alternative to storing currency values, having realized the wider benefits of bitcoin, of course i think after the war is over and their life will return to normal of course they starting to understand about the benefits of bitcoin in each of their economic conditions so far, what is happening with russia right now of course will open the world's eyes to be more open to the development of bitcoin, and i am very sure when the war is over and russia is in a state of sanction by the west , the first thing that president putin will do is legalize bitcoin in russia.

[pooya87]

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

Bitcoin price didn't go down because of the conflict, it went down because of market manipulation.

Russian's native currency Ruble is losing its value and therefore people are converting their wealth in bitcoins. We cannot yet say how things will develop after the war. It entirely depends upon the outcome of this war.

Bitcoin price also didn't go up because of the conflict, it went back up because the manipulated ended and couldn't keep the price lower than $40k any longer.

Thinking things are going to change during or after the conflict means you have never looked at bitcoin charts before. If you study them for a little while you can see that volatility like this is actually very common in bitcoin and the overall movement is always upward regardless of the insignificant events in a small corner of the world.

[Poker Player]

It is curious. Does anyone know how to measure the market cap of currencies? I have also seen this website:

https://fiatmarketcap.com/

There it seems that they measure the market cap with respect to Bitcoin, it would be simply adding up all the printed currency, so to speak. The thing is that for very devalued currencies can give a very high number, so it is better to measure it against a reference, as they do on this page with respect to Bitcoin.

[hugeblack]

If we look at the market value of  Russian ruble, we will find that its value is much lower than many emerging economies such as Brazil or Spain, and therefore it will not have an effect linking the price of the ruble to the price of Bitcoin.
Paper money calculates its value from commercial exchanges and the economic strength of the state, and therefore it is linked to political factors rather than just economic aspects.
Bitcoin is not linked to stocks and politics although it can be affected by accompanying events.

[swogerino]

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

I don't think so. When the covid 19 has hit the world, many have been worried about bitcoin's price and it went the opposite. Now, that the world is turning back to normal, the effect is still there.
And the same goes for this Ukraine-Russia war, we thought that most economies would collapse including bitcoin but, we've just seen the surge on its price. It's very likely that when things back to normal, the effect will remain to bitcoin and people who have held it during the war are likely to hold it.

Bitcoin will not be that much affected after the war ends,it will do its thing like it has always done before not being impacted that much by global events,as that is at the core the true power of a true decentralized economic system.The only real losers from this war are beside the victims of Ukrainian civilians the Russian civilians,as they will suffer the consequences of the sanctions for much longer even after the war has ended.The leaders of EU will have a nice argument that Russia started a war and have that as a precedent so unfortunately the true losers are Russian civilians.As for Bitcoin it is not that much impacted by global events or at maximum it is only affected temporarily like when China imposed a ban.

[pawanjain]

I feel bad for Russia but at the same time I feel so good for bitcoin since people are finally realizing the value of holding bitcoin.
We can finally say that it is actually holding value. Many treat it as a safe haven and it's just a matter of time until we see it in the top 10.
Although Russian Ruble is losing it's value due to the war, I don't think it will be able to recover fully after the war is over.
Once the damage is done it's done. It will have it's affect on the economy and we might see bitcoin being more valuable in future.

[DdmrDdmr]

If we look at the market value of  Russian ruble, we will find that its value is much lower than many emerging economies such as Brazil or Spain <…>

Spain has had the Euro as its currency since 2002 …

I wouldn’t expect things to go back to "normal" for quite a long time as far as the economy goes, and I figure that the Russian economy (amongst others) is going to suffer for the years to come as a result. Despite the fact that some people will have managed to move at least part of their saving to crypto, I don’t think that it has been a really significant chunk (although I have no way of telling myself), and the restrictions are going to make it significantly more difficult to do so.

[Sterbens]

Restoring the price of the ruble to stability is a long time, during which the process of improvement continues. So that Bitcoin holders will also not immediately return to the ruble until it is completely stable. Russia, which is now hit by the fall in currency prices, the exchange process of Bitcoin has no effect on the price. As long as the Ruble is in a period of economic growth of all sectors, the infrastructure to restore it takes time, so that period of time plays a role in which Bitcoin can wait longer.

[teosanru]

Bitcoin’s valuation has surpassed that of the Russian Ruble and also institutions like JPMorgan, Meta and others.    
Bitcoin has become one of the most valuable currencies globally after overtaking the Russian ruble.

The invasion of Ukraine has sent Russian currency tumbling to record lows, and Bitcoin is profiting from that. This followed its sharp recovery after it fell to $35k after news of the invasion broke out.

Bitcoin is more valuable than Russian Ruble

With an over 17% increase in the last seven days and a 13% surge in the past 24 hours, Bitcoin has become part of the 15 most valuable currencies globally by market cap. It surpasses the fiat currencies of nations such as Saudi Arabia, Mexico, Thailand, Sweden, and Israel.

The fall in the Russian ruble against Bitcoin and US dollars came after some Russian financial institutions were cut from SWIFT. The ruble’s value against the dollar reached ₽108 on Monday, a significant rise from the ₽83 the week earlier.

Source

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

I think this isn't a feat of bitcoin but rather a failure of the Russian currency and government. If the sanctions remain the way they are going on. Russia's economy will collapse like hell. It already is on the verge of its foreign debt obligation default, already has put a lot of restrictions on its people relating to the flow of money. The only way out Russia now has is to end this war in peace negotiations or be ready for a complete cut-off from the rest of the world or the west at least. But just out of general curiosity I was thinking if the same thing was being done by the US? will the behavior of other countries would have been the same? leave alone countries what would have been the behaviour of the tech giants? Dollar would have suffered the same problem?

[uneng]

It is curious. Does anyone know how to measure the market cap of currencies? I have also seen this website:

https://fiatmarketcap.com/

There it seems that they measure the market cap with respect to Bitcoin, it would be simply adding up all the printed currency, so to speak. The thing is that for very devalued currencies can give a very high number, so it is better to measure it against a reference, as they do on this page with respect to Bitcoin.

Very nice website/tool to instantly compare in numbers of bitcoin how much each country's currencies worth and how much the total fiat supply really values.

I'm looking ruble currency right now and although the russian economy is facing a deep crisis, the total amount of fiat circulating still worths more than half of total amount of bitcoin supply. That is almost 600$ billion dollars in currently bitcoin quotation. But probably it's going to get worse for Russia yet before it gets better again... They are in 18º position so far, with less than 1,000,000BTC advantage over Singapore and a little more than 1,000,000BTC advantage over Israel. That would be interesting if these countries were able to surpass Russia in marketcap volume soon.

[Smartvirus]

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

When someone sustains some large wounds, there is always a scar to note what suffering that part of the flesh has endured. This is always the case of wars and Russians are paying heavily to have started this war with the Invasion of Ukraine. Of course a lot of sanctions has been ditched out to Russia and most of it if not all, would be revoked after the war though, I strongly believe things won't come rushing back to normal. There are families, Ukrainian families who have suffered a lot from this Invasion and I don't see them smiling at Russia or even setting a part of there portfolio for some Russian based investments. Same to other citizens of the world who shares in the sufferings of the Ukrainian people. The war being called to an end is still not going to have a major effect on bitcoin.

[pooya87]

It is curious. Does anyone know how to measure the market cap of currencies?

The source in OP is using coinmarketcap.com where they are essentially taking the M2 money supply (which is "a measure of the money supply that includes cash, checking deposits, and easily-convertible near money") of each fiat currency and converting it to a single unit (bticoin) using their exchange rate, so it can be compared.

P.S. This is a flawed method in my opinion because each fiat currency belongs to a single country (in some cases a handful of them) whereas bitcoin is a global currency that belongs to the whole world. So comparing bitcoin with a single fiat currency is wrong, it should always be compared with the sum of all fiat currencies (all money supply in the world).

[Reatim]

Bitcoin’s valuation has surpassed that of the Russian Ruble and also institutions like JPMorgan, Meta and others.    
Bitcoin has become one of the most valuable currencies globally after overtaking the Russian ruble.

The invasion of Ukraine has sent Russian currency tumbling to record lows, and Bitcoin is profiting from that. This followed its sharp recovery after it fell to $35k after news of the invasion broke out.

Bitcoin is more valuable than Russian Ruble

With an over 17% increase in the last seven days and a 13% surge in the past 24 hours, Bitcoin has become part of the 15 most valuable currencies globally by market cap. It surpasses the fiat currencies of nations such as Saudi Arabia, Mexico, Thailand, Sweden, and Israel.

The fall in the Russian ruble against Bitcoin and US dollars came after some Russian financial institutions were cut from SWIFT. The ruble’s value against the dollar reached ₽108 on Monday, a significant rise from the ₽83 the week earlier.

Source

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

No one knows mate , yes there is a effect nowadays but this maybe also Russians are putting their funds inside Bitcoin than their own currency Ruble .

this can happen of course right?  because suddenly because of the Invasion their currency value drops that bad.

This is an eye opener for those people who doesn't still believe in Bitcoin's potential. It can overcome any countries currency, and stand on even times like this. The past weeks dip is now gone and Bullish is on the way. More investors are attracted and maybe could see another ATH soon this year.

Don't take it that much because we know nothing what is the reason for this increase in value.

because if this is because of Russian converting their money to Bitcoin then this is not really a great thing for future because once the war ended they will take all funds out again .

[worle1bm]

Due to sanctions and war crisis it has gone down with drop of around 30% in Ruble which is huge downfall and its value pegged against dollar is now of some third world country which means they are back in time and this is happening due to war only so what Russia will get out of it? The economy is strong but how long it can hold and will collapse at one point and they will need many years to revive it properly.But at that time inflation will reduce the value of Ruble more so you can say not much scope of growth in future also.

[m2017]

Bitcoin’s valuation has surpassed that of the Russian Ruble and also institutions like JPMorgan, Meta and others.    
Bitcoin has become one of the most valuable currencies globally after overtaking the Russian ruble.

The invasion of Ukraine has sent Russian currency tumbling to record lows, and Bitcoin is profiting from that. This followed its sharp recovery after it fell to $35k after news of the invasion broke out.

Bitcoin is more valuable than Russian Ruble

With an over 17% increase in the last seven days and a 13% surge in the past 24 hours, Bitcoin has become part of the 15 most valuable currencies globally by market cap. It surpasses the fiat currencies of nations such as Saudi Arabia, Mexico, Thailand, Sweden, and Israel.

The fall in the Russian ruble against Bitcoin and US dollars came after some Russian financial institutions were cut from SWIFT. The ruble’s value against the dollar reached ₽108 on Monday, a significant rise from the ₽83 the week earlier.

Source

What happens when the war is over and things go back to normal, this can affect the price because not many of those who bought would want to hold. What's your opinion.

1. There are very big doubts that the current situation will normalize very quickly. Most likely, this will drag on for a long time and indefinite term.
2. Also, I think that we will not return to the previous indicators that you called the "normal". The consequences of the current situations will affect this.
3. If my assumptions are justified, then people will have no choice but to continue to hold bitcoin. Some of them will spend bitcoin on household needs, but at the same time new buyers (Not everyone buys at the same time. Someone is waiting for the normalization of the situation, and someone else doesn't know about alternatives, like bitcoin) will appear, frightened by the progression of the worsening situation. So, the balance is likely to shift towards buyers rather than sellers.